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Posted by joe on May 04, 2006 at 11:17:16:
In Reply to: new boiler posted by Nick on May 03, 2006 at 11:03:19:
based upon my research and Heatpro's answers to my questions I am doing the following: throwing out my old oil boiler and installing a new high efficiency (92%) gas burner (Trinity i100 set to come out in the next few weeks) for heat, coupled with an ergomax indirect tank for hot water. I will throw out my old cast iron radiators and put in baseboard. I locked in for 5 years at 1.39 cents per therm for gas. (1 gal oil is equivalent to 1.4 therm) At that price it is equivalent to locking in at $1.93 per gal of oil for 5 years, which is great, considering oil is about $2.50 per gallon and will probably increase in price during the next 5 cold winters. The name of the company to lock in is called Infinity Energy at 1-800-724-1880 x1 x1 x3 x1. This is the best deal I could find. Last month, Con Edison charged me more than $1.65 per therm. I can predict almost exactly how much I will spend in the next 5 years.
For example, assume someone uses 2000 gal oil annually for heat and hot water. At 70% efficiency 1400 gal oil actually used to provide heat and hw and the other 600 gal oil goes up the chimney.
in therms, you need the equivalent of 1.4 * 1400 = 1960 therms. If your boiler is now 92% efficient, you would need 2130 therms with the new boiler to provide the equivalent of the oil boiler using 2000 gallons of oil.
If oil prices do not go up for the next five years, the cost to heat the house is $2.50 * 2000 = $5000.00
If the boiler is changed, the cost to heat the house is 2130 therms * 1.39 = $2960.00
the savings per year should be at a minimum of about $2000.00 per year, assuming oil prices do not rise in the next 5 years.
That is a guaranteed savings of 10K in the next 5 years.
You must weigh that against the cost of replacing the boiler. To me, it is well worth it.
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